The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-05-07
BUSINESS BAROMETER.
GENERAL CONDITION OF TRADE.
Largo Increase In Volume at Woatern
Points, Owing to Land Speculation and
Building Dooms-lailroad Earnipgs,
Lots Of Money Aloat-The Outlook

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weekly trade rovlew says: The feature oil
business reports for the past week is the
enormous increase reported at many
Western points. In that section the In.
ter'state act, though checking trade at
some important points, seem to have pro.
duced feeling Of extraordinary conf.
dence in a much larger number Of towns.
Other causes, particularly the speculation
in the real estate, and tho activity in
building, contribute to swell transactions
surpriaingly. At Cincinnati, the clearinps
show an increase Of 80 per cent over last
year; at St. Louis l6 per cent, and at Obi.
cago IA, but St. Paul and San Francisco
report gains Of 43 per cent, and Memphis,
St. Joseph and Peoria, exceeding 50 per
cent, indianapolis and Denver nearly so
per cent, Omaha l02 per cent, and Wichita
ITO per cent.
LAND AND BUILDING uooMs.
Apart from land trading and new build.
ing, other business has been remarkably
active throughout that region. Denver
notes an increase in yield Of precioua
metals, st. Paul large output Of flonr,
Cleveland, Cincinnati and Milwaukee, a
distinct improvement in trade and collec.
tlons, and tho supply Of money seems
everywhere ample. At Memphis the
activity noted Is mainly in real estate aud
building. Eastern cities do not lind a
corresponding improvement in trade,
Az Philadelphia the exchanges show
little increase. Large amounts Of capital
are going thence to the west on mortgage
loans. eh0
The boot and shoe business still i'm.
proves, but woolen manufacturer ia do.
pressed by slow demand for goods. and
several New England mills have atonnod
or reduced time. The high prices being
paid Tor new wool at the west, It is claimed.
will make profitable manufacture i'm poss;.
BILE for many. The dry goods market il
quiet, though prices are we'll maintained.
In the grocery trade there is much com.
plant OF dullness, and sugar has Welded
shade. In spite Of the active specnlation
IN coffee the demand for consum ntion ia
limited. -
RAILROAD EARNINGS.
Railroad earnings give proof that while
traffic is large the increase falls far short
Of reported gains in the volume of bust.
ness at the west. Reports Of railroads for
april 80 Tar show an average increase OF
II per cent in gross over last year,
Wheat is checked by corner in near
options, which has advanced the price 81
cent?. H If6
Cotton futures for June are also cor.
nered and have advanced a quarter. ~
bessemer iron is so to IS cents lower at
PlttHburgh; eales OF bar at cents are not
unusual at Philadelphia, and there are re-
ports large sales Of pig at concession,
while some rail mills arc open for orders
at S3S. Already 967 miles Of railroad
have been completed against 652 to date
last year, and new securities are offered in
great variety and in large amount, but The
uncertain prospect as to rates respecting
the decision OF the Interstate Commits.
sion, affects investments in stocks, though
prices have improved little. = =
THE MONEY MARKET, I4.I
The generous supply Of money goes far
to explain the situation. Not only has
the Treasury added about 81, ,927, 900 to
the circulation in April, but the abuud.
ance and cheapness Of money in London
are clearly felt here. UndoubtedIy lar0e
amounts Of foreign capital are seeking en-
ployment here in the industries or in real
estate loans, because Of the Inadequate
demand abroad. While this state Of thiups
m j
continues ana crop prospects grow more
favorable, tne season OF speculation and
expansion in trade and industry is not
likely to meet reaction.